Political situation in Singapore

Singapore has seized 46 billion in five years

Law enforcement authorities in Singapore have seized the equivalent of SEK 46 billion that can be linked to criminal activity and money laundering since 2019. This is stated by the government in a new report, writes AFP.

About half of the sum was seized during several raids in connection with one of the world's largest money laundering scandals last year.

The government states that in many cases it is about foreign gangs and syndicates that carry out the crimes.

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The Prime Minister's concern: "We face greater risks"

Singapore's new Prime Minister Lawrence Wong is concerned that criminal groups and syndicates are seeking Singapore, writes the AFP news agency.

- As an international financial and business center, we realize that we face greater risks for money laundering and terrorist financing, he says in a meeting with the organization Working Group for Financial Measures, FATF.

The Prime Minister emphasizes that the government is working on measures to deal with financial crime in the country.

- We are determined to do what is necessary to respond to these risks and protect Singapore's reputation as a reliable financial centre, he says.